Day Trading can be a risky activity. Trade at your own risk.
Having said that, lately I’ve only been trading one stock, which is American Airlines (AAL).
I think I have the stock’s patterns down, and know what to expect during certain times in the morning. So, AAL has been one of the easier stocks to day trade.
And this morning, I found the right time to get in, and set up the order to get out, which occurred in about 5-10 minutes time, kind of like scalping.
With the stock market, the way it’s been going lately, it’s depressing to see the monthly changes occurring, and even day trading can be difficult, well more difficult than usual, because of the volatility and uncertainty combined.
Sure, we want volatility as a day trader, but the uncertainty part makes it tough to enter and exit. So, I’ve been hestitant to day trade, not like I did before.
One thing though, if you see patterns emerging then go for it. It might take some watching for weeks to months but it helps to study the patterns, and to look at a few indicators like RSI, ElliotOscillator and MACD to see when stocks are overbought or oversold. Average Volume also helps. You want to know if traders are buying or selling.